RPG Investment Advisory LLC Has $10.06 Million Stock Holdings in Devon Energy Corporation $DVN

RPG Investment Advisory LLC grew its stake in shares of Devon Energy Corporation (NYSE:DVN) by 11.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 287,110 shares of the energy company’s stock after purchasing an additional 28,532 shares during the period. RPG Investment Advisory LLC’s holdings in Devon Energy were worth $10,063,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in DVN. Geode Capital Management LLC increased its position in Devon Energy by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 18,595,683 shares of the energy company’s stock valued at $589,399,000 after buying an additional 218,034 shares in the last quarter. AQR Capital Management LLC grew its stake in Devon Energy by 78.7% in the second quarter. AQR Capital Management LLC now owns 6,360,499 shares of the energy company’s stock valued at $202,327,000 after acquiring an additional 2,802,137 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Devon Energy by 1.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 4,784,270 shares of the energy company’s stock valued at $152,188,000 after acquiring an additional 77,433 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in shares of Devon Energy by 83.9% during the second quarter. Adage Capital Partners GP L.L.C. now owns 4,568,092 shares of the energy company’s stock valued at $145,311,000 after acquiring an additional 2,083,600 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Devon Energy by 3.7% during the second quarter. Legal & General Group Plc now owns 3,179,937 shares of the energy company’s stock worth $101,154,000 after purchasing an additional 112,537 shares during the period. Institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wolfe Research reduced their price target on shares of Devon Energy from $53.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday. Barclays reduced their price objective on shares of Devon Energy from $42.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. Scotiabank restated an “outperform” rating on shares of Devon Energy in a report on Thursday, October 9th. Johnson Rice dropped their price target on shares of Devon Energy from $70.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, December 5th. Finally, Citigroup boosted their price objective on Devon Energy from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.62.

Devon Energy Stock Performance

Shares of DVN stock opened at $35.91 on Wednesday. Devon Energy Corporation has a 52 week low of $25.89 and a 52 week high of $38.88. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.87 and a current ratio of 0.96. The firm’s 50-day simple moving average is $35.76 and its two-hundred day simple moving average is $34.48. The firm has a market cap of $22.53 billion, a price-to-earnings ratio of 8.45, a P/E/G ratio of 2.99 and a beta of 0.60.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Wednesday, November 5th. The energy company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.11. Devon Energy had a return on equity of 18.14% and a net margin of 15.56%.The business had revenue of $0.00 million during the quarter, compared to analyst estimates of $4.10 billion. During the same period in the prior year, the company earned $1.10 earnings per share. As a group, equities analysts forecast that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 15th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Monday, December 15th. Devon Energy’s dividend payout ratio is presently 22.59%.

About Devon Energy

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.